UAE the digital hotspot for cryptocurrency business is expanding globally and persuading companies to invest in Dubai smart city. The cryptocurrency turned into digital gold and made a huge impact on the UAE economy.
UAE government’s vision is to transform Dubai into a financial platform and in 2021, Dubai is a leading state of UAE with the highest percentage of cryptocurrency business startup and blockchain investors.
Cryptocurrency Business in Dubai
The number of financial transactions through Blockchain is higher in Dubai as compared to private central banks’ business activities. IBM, Microsoft, Amazon, and Tesla officially interacting with Blockchain and made long-term contracts to launch digital currency in Dubai and globally.
High demand for crypto assets experts in Dubai increased within a couple of years and blockchain technology companies are establishing their branches in Dubai free zone. DMCC recently announced a crypto-valley in Dubai to initiate all cryptocurrency prices and exchanging activities under one roof. The Crypto Valley will be the biggest digital ecosystem in UAE to manage blockchain, cryptographic, crypto trading, and Crypto-wallets.
DMCC crypto valley will open the gates for start-ups, incubation Centres, entrepreneurship training, and funding departments. The cryptocurrency business trend is at the highest peak in Dubai and there are many business opportunities for freshers to gain maximum profit out of any cryptocurrency market.
Types of Cryptocurrency Business
- Cryptocurrency Mining in Dubai
Cryptocurrency mining software companies are earning higher than android apps software companies in Dubai. There is a mining pool in Dubai which are created for crypto-coins mining and distribution to cryptocurrencies.
The three main types of crypto-mining are app mining, CPU mining, and GPU mining. Slush Pool, Hashgains, MultiPoolMiner, and Salad are the top best cryptocurrency mining software in Dubai.
The cryptocurrency mining business has maximum profit with minimum risk that enables entrepreneurs to try their luck with the support from UAE start-up incubation centers and venture capitalist firms.
READ How To Setup A Cryptocurrency Business in Dubai and UAE?
- Top cryptocurrency to invest in Dubai
Cryptocurrencies exchange companies are increasing rapidly in Dubai digital market, the biggest digital cryptocurrency is Bitcoin. Bitcoin makes about 64% of cryptocurrency market value and unofficially considered as the main name for cryptocurrency but in Dubai, there are other competitors of bitcoin slowly taking over the market share.
Tether USD has more transactions percentage than Bitcoin but the crypto share value is lower than Bitcoin. Ethereum price (ETH) was doubled between 2019 and 2020. Now it is the second profitable virtual currency after Bitcoin. LiteCoin (LTC), DOGECOIN (DOGE), Nexus (NXS), and Ripple (XRP) are listed as the top cryptocurrency exchange in Dubai, UAE.
2021 stats show, 4,000 cryptocurrencies in existence, and 60% of them are operating in Dubai, UAE. The numbers are increasing and the United Arab Emirates smart cities are providing free zone land to cryptocurrency business startups.
Before the purchase of Bitcoins, the virtual wallet is required to protect the e-currency from hackers and exchange your digital coins into international acceptable currencies.
The bitcoin wallet stores private encrypted codes required to access the cryptocurrency exchange you purchased and spend your money. The best crypto-wallets in Dubai are Rain, eToro, Paybis, BitOasis, and Bitcoin ATMs. Crypto-wallet business demand is growing in Dubai, Abu Dhabi, and Sharjah.
This business has numerous advantages because if anyone purchases a large number of bitcoins then a safety vault is essential. Entrepreneurs are selecting their business type from this category because the competition is slightly lower compared to cryptocurrency mining and currency extraction.
- Blockchain development Business
The blockchain is a coin-to-coin exchange online network that uses the digital web to connect all e-currencies transactions and apps to make a single interconnected cryptocurrency market digital platform.
Some great blockchain companies are assisting UAE customers and still, there is a space for blockchain developers to start a fresh business in the main zone of the Dubai market. SoluLab, OpenXcell, S-pro, and Adoriasoft are leading software and blockchain developers assisting UAE digital market at an advanced level.
Entrepreneurs can invest in blockchain business, they can hire developers and buy coins to create their blockchain hub in UAE, Dubai. Business of creating virtual cryptocurrency market has higher net profit compared to traditional business in UAE.
- Cryptocurrency Investment/Exchange Business
A digital wallet is required to buy or sell bitcoins. They can also provide assistance to exchange e-currency into UAE, OMAN, US Dollar, and Euro. The few and best cryptocurrency exchange apps in Dubai are Coinbase, Cash App, and Binance.
Coinbase acquired the largest cryptocurrency exchange business in Dubai. They deal with cryptocurrency Bitcoin prices including Litecoin and Ethereum price exchange. The best service they are providing is keeping their client’s bitcoins in a secured location that is disconnected from the blockchain network. A highly organized and affordable fixed rate of bitcoins transactions gives competitors an edge over Coinbase.
The top cryptocurrency exchanges mobile app with the highest transaction rate in UAE. Cash App’s best selling product is Ethereum and they provide reasonable Ethereum price rates to the international market. Square brand powers Cash App and they handle all major financial transactions including Bitcoins.
This cryptocurrency exchange company offers a wide range of digital gold. Bitcoin, Ethereum, Ripple, Litecoin, Dogecoin, ICON, Tron, and their own private cryptocurrency Binance Coin are among the top-selling cryptocurrencies in Dubai. Binance’s best feature is the extremely low fee charges and which is below 0.1%. This strength helped them to secure numerous deals from the Dubai market.
All of these apps have one special quality that boosts their apps’ demand in the crypto-market. The cryptocurrency exchange app has great potential and suitable for entrepreneurs to build their very own software app to connect with desired customers who are abundantly present in the Digital Hive of UAE smart city.
KWSME Cryptocurrency Investment Consultant
We at KWS Middle East are the business setup consultants and help entrepreneurs like you to start a cryptocurrency business in Dubai, UAE.
- KWSME can create ease for the entrepreneurs who are planning to get a cryptocurrency license in Dubai, UAE.
- We have perfect knowledge about the cryptocurrency list and cryptocurrency market which includes Business Registration and Licensing (BRL), Dubai Department of Economic Development (DED), and Dubai Multi Commodities Centre (DMCC).
- We have professional English-Arabic translators who can help you find the best crypto-wallet companies and completion of documentation.
- We are a reliable business setup brand that helped many fresh entrepreneurs about what is cryptocurrency and how cryptocurrency works in Dubai, UAE.
Our services are cost-effective and provide reasonable packages to create a strong tie with our clients.
- We have an experienced business team who can contribute to acquiring profitable cryptocurrency to invest in Dubai.
- KWSME team has enhanced knowledge of Business in Dubai, UAE.
- We are providing affordable services which include, sending/receiving documents, VISA, registration, and cryptocurrency mining business office in free zone areas of Dubai, UAE.
If you plan to start a cryptocurrency investment business in Dubai, then we can help you with everything you are looking for. Feel free to visit our website www.kwsme.com to gain more interesting facts about the cryptocurrency business in Dubai or contact us today for more information.